Have a look at the current aud/cad chart with the harmonic indicator on your chart. I got long on this pair on tuesday or 10/8/12. If you look at it now, you will see the green shade indicating that the bullish ABCD pattern that it is showing, completed on 10/8/12. The thing is, if you looked at this chart on the 8th and even on the 9th, there was no indication of a harmonic pattern. The indication showed up yesterday although if you look at it, you would think the green shade has been on the chart since 10/8. Doesn't seem very useful if it's two days late but kinda pretending that it's been there all along.

Upon further review...I would not say that this indicator is useless but it it highly flawed and if you are going to use it, I would suggest that you get familiar with harmonics and learn to draw your own fibs. Just as an example, there are tons of abcd patterns that show up when using this indicator. The parameters of the pattern say that there should be a maximum of a 1.618 BC projection. If you look at a lot of the patterns that the indicator identifies as abcd patterns, they go well past the 1.618 projection. The programmer really needs to tighten up this indicator.

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